Truss or Sunak will need to deliver ‘shot in the arm’ of UK economy July 22, 2022 Rishi Sunak or Liz Truss will need to deliver a “shot in the economic arm” of the country to lift Brits’ confidence out of the doldrums after one of them wins the Conservative leadership race, two closely watched surveys published today reveal. Scorching inflation, the highest interest rates in 13 years and tax hikes have [...]
Tory leadership race: New poll gives Truss big lead over Sunak July 21, 2022 Rishi Sunak and Liz Truss duelled over their tax plans today as a new poll gave the foreign secretary a commanding lead in the Tory leadership race. A YouGov poll of Tory members put Truss on 62 per cent and Sunak on 38 per cent on the first day of a six-week campaign to become [...]
Tory leadership race has created a surplus of Twitternomics July 21, 2022 Economics really has become the new battleground for armchair commentators. Are unfunded tax cuts inflationary? Should we worry about the UK debt stock nearing the same size as the economy? Such questions have sparked long Twitter threads that have generated even longer threads in response. Who’d have thought the dismal science was so interesting to [...]
Jitters over global recession send FTSE 100-listed industrial giants lower July 21, 2022 Jitters over a slowdown in the global economy pulled industrial stocks lower today, taming gains on London’s FTSE 100, but Frasers group boosts mid-cap index. The capital’s premier index edged 0.09 per cent higher to 7,270.51 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
European Central Bank marks first rate rise in over a decade with shock 50 basis point move July 21, 2022 The European Central Bank (ECB) today marked its first interest rate rise in over a decade with a shock 50 basis point move. The biggest inflation surge in the eurozone since the creation of the single currency in 1999 forced President Christine Lagarde and co to launch the bigger hike. The Continent’s monetary authority has [...]
Government and major businesses work together to help households with cost of living July 21, 2022 The government will collaborate with leading businesses to help UK households facing the cost of living crisis, it said today. The Cost of Living Business Tsar and ex-chief of Just Eat David Buttress agreed retail deals and discounts with major businesses in the UK like Asda, Sainsbury’s, Amazon, and Vodafone as part of the Help [...]
‘Left in limbo’: Pubs and brewers disappointed as alcohol duty legislation pushed back July 21, 2022 Brewers and pubs have been “left in limbo” after the government has announced delays to the next phase of changes to the alcohol duty system. Draft legislation was set to be published this summer, to be consulted on before being introduced through the 2022/2023 finance bill. Ministers have been looking at how to introduce changes [...]
Brickability revenue and profit more than doubles amid record demand for homes July 21, 2022 British merchants Brickability has reaped the rewards of housebuilders’ steamroll in the property market, having had its revenue nearly triple in the past year. Housebuilders in the UK have rushed to take advantage of record property prices, in trying to up their completions despite raw material inflation and supply chain disruptions. Revenue surged 187 per [...]
Tory leadership race: Truss claims her tax cuts would decrease inflation July 21, 2022 Liz Truss has today claimed her plan to introduce tax cuts worth £30bn+ would “decrease inflation” as she begins her campaign to win over Tory party members and become Prime Minister. The foreign secretary denied claims by economists, and her leadership rival Rishi Sunak, that her tax plans would further fuel the UK’s 40-year high [...]
Scorching inflation sends UK debt interest bill to record-high £19bn July 21, 2022 Scorching inflation has ballooned the UK’s debt interest bill to its highest level since records began in the early 1990s, official figures published today revealed. The amount of money the UK had to pay investors holding government debt in June more than doubled over the last year, topping £19bn, up from £9.1bn in June 2021, [...]